AdAlta Completes Rights Issue, Raises $1.3 Million

The latest update is out from AdAlta Ltd. ( (AU:1AD) ).

AdAlta Limited has successfully placed the remaining shortfall in its renounceable rights issue, raising a total of $1.3 million. The funds will be used to advance licensing transactions for its CAR-T product, business development for existing assets, and evaluate strategic options. This financial move is part of AdAlta’s efforts to transform the company and unlock shareholder value. Additionally, the company addressed an administrative error involving share allocations to directors, ensuring compliance with ASX requirements.

More about AdAlta Ltd.

AdAlta Limited is a clinical stage biotechnology company focused on developing effective cellular immunotherapies for the treatment of solid cancers. The company integrates Asian T cell therapy innovations with Australia’s clinical and manufacturing capabilities to create a pathway for these therapies to reach Western markets. AdAlta’s strategy involves in-licensing products from Asia, establishing US FDA regulated manufacturing, and conducting Phase I clinical studies to position products for potential partnerships with larger biopharmaceutical companies. The company aims to dominate the high-growth cellular immunotherapy market, which is projected to reach US$20.3 billion by 2028.

Average Trading Volume: 1,060,063

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$2.52M

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